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Introduction of Metro Rail network in Jaipur will create new opportunities of real estate development

It is not the distance but the travel time that matters for all those who spent a lot of time commuting from their home to their work places every day. For them, the good news comes in Metro Rail. The advent of metro rail in Jaipur would be come a buzzword not only among people awaiting to commute in comfort of the air conditioned trains but also amidst the real estate sector, which is currently feeling the heat of global slow down.
“In Kolkata and Delhi, the metro rail projects became a determining factor in the escalation of real estate prices. All the commercial and residential properties located near a metro rail station suddenly saw the prices going northwards. Access to the commercial hubs and residential areas became easy from the area located near metro railway stations.
In Jaipur too, the metro rail project will give a new lease of life to the real estate sector in the next couple of years. The developers and buyers have already started taking keen interest in the metro rail projects as this would change their fortune in times to come,” said Onkar Lal Sharma Karauliwala, the chief liaison officer of Delhi Metro Rail Corporation who would also handle the metro project of Jaipur.
The metro rail would run through various areas like Ramganj, Chhoti Chaupar, Badi Chaupar, Maharani Ki Chatri and Jal Mahal. These areas would be linked with Mansarovar, Gujjar Ki Thadi, Shyam Nagar, Jacob Road, Railway Station, Sindhi Camp Bus Station, Sanganer, SMS Stadium, Nehru Place, Bajaj Nagar, Malviya Nagar and Airport.
Realty prices are expected get an unprecedented hike as these areas would provide an easy connectivity through the metro rail in the next four five years.
“These are already considered as the premium locations in the city. The services of metro rail transit system that are coming up in Mumbai, Hyderabad, Bangalore has already raised big hopes in the real estate market and the prices of land and buildings in these areas have started going up and would go up further in the next few years, ” said Karauliwala. The demand for residential flats has already gone up especially at the places where the project will start initially. Once the better picture of the route is available the people would try and buy properties near the metro rail stations, added Karauliwala.
“The JDA is connecting the Agra Road to the main city by building a tunnel from the Jawahar Nagar bypass. This would be a give great respite from the increasing traffic pressure on Agra Road. The state government has already earmarked 45 km area on the both the sides of the proposed tunnel for developing a new city in this area.
Connecting this area through metro rail will not only open new growth prospect in the area but it will also help in reducing the traffic congestion in various other parts of the city,” said Mahesh Jain, a builder.
The detailed project report (DPR) of the Jaipur rail project is being prepared. State of the art technology will be used for both underground and over head rail system.